BP pulls out of shale drilling in northeast Ohio

1:25 AM,
May 1, 2014

Written by

AP

BP will scrap plans for shale drilling in northeast Ohio because of disappointing results from test wells.

The energy company said in a news release that "as a consequence of its appraisal results," it was abandoning plans for drilling in the Utica shale and selling off leases in the region.

The company has about 105,000 leased acres in northeast Ohio, mostly in Trumbull County near Warren. The company announced as part of its first-quarter financial results this week that it will write off more than $500 million it has spent there so far. ...